2015 Kia Sorento Lease Questions

I am working with a local dealer on a lease of a 2015 Kia Sportage Base LX 4 cyl. with the Convenience package and cargo tray. I am in NC and here are the #'s I am getting from the dealer:
Gross Capitalized cost 27822
Net Capitalized cost 25058.30
Money Factor is .00059
Monthly Tax 8.39
No money down - 288.04 for 36 months and a payoff of 13203.26
My wife and myself have very good credit so I'm not sure how good that money factor is.
How do these #'s look?

@car421 said:
I am working with a local dealer on a lease of a 2015 Kia Sportage Base LX 4 cyl. with the Convenience package and cargo tray. I am in NC and here are the #'s I am getting from the dealer:
Gross Capitalized cost 27822
Net Capitalized cost 25058.30
Money Factor is .00059
Monthly Tax 8.39
No money down - 288.04 for 36 months and a payoff of 13203.26
My wife and myself have very good credit so I'm not sure how good that money factor is.
How do these #'s look?

2015 Sorento LX FWD:

.00059 is the base MF and the residual is 58% for 36mo, 12K/yr.

Hard to calculate without the MSRP... By "payoff", do you mean residual? Or, is this a balloon note, instead of a lease? Because a 58% residual would be higher than that number, I think.

Their trade offer is low and the assumed equity is off. Carmax appraised the car at 15k and they are offering 14800. Most websites have the trade higher than both but I should have at least 2k in trade equity. I also feel I can work on the price now that I have the itemized costs. I was really hoping to be in the 240 range. The trade is a 2012 optima ex with trunk mat. 33000, all service done at dealer I am working with along with purchasing the car there. Car is in exellent shape.

Looking to lease a 2015 EX v6 with touring package and credit for the third row. MSRP $34,990 less $1750 rebate plus additional lease rebate of $250 making the final price $32,990. Three year, 12k miles (I wanted 20k but they said they don't do 20k leases) quoted Lease residual at 50% and the money factor at .00142 payment roughly $420 including tax, tags, fees with $2000 cap cost. They claim there are no Titanium cars in this configuration so I would have to compromise on color. Do these numbers sound right to you? My calculations don't add up to this, I get a higher payment. Any room to negotiate? I don't want to put $2000 down, max $1000 so I know that will change the numbers a bit. In Pennsylvania with credit score around 720-740 depending where it's pulled from.

They are offering 1750 in rebates (1122.52 of which is the cap reduction above for FWD and 1117.99 for AWD). The rest is made up of First PMT, Doc Fee (150),(Lice/reg 2.50), and Taxes (~100)

At face value it looks like a decent deal.. but I'm really fighting to get my payments closer to $300 a month. I feel like something is fishy here and that any reduction I'm getting is basically just cancelling out the fees and not truly getting me closer to invoice pricing on things.

Any bargaining suggestions to get the payments down some more?

I have the invoice for the AWD rendition. MSRSP is 25900, dealer cost 25027. Convenience package 2200/2025, 50/50 seat 1000/930.

They are offering 1750 in rebates (1122.52 of which is the cap reduction above for FWD and 1117.99 for AWD). The rest is made up of First PMT, Doc Fee (150),(Lice/reg 2.50), and Taxes (~100)

At face value it looks like a decent deal.. but I'm really fighting to get my payments closer to $300 a month. I feel like something is fishy here and that any reduction I'm getting is basically just cancelling out the fees and not truly getting me closer to invoice pricing on things.

Any bargaining suggestions to get the payments down some more?

I have the invoice for the AWD rendition. MSRSP is 25900, dealer cost 25027. Convenience package 2200/2025, 50/50 seat 1000/930.

$895 in destination/freight/handling
MSRSP 3090/29236

Thanks!

A couple of missing pieces:

What trim level is this (LX, EX, SX) and what engine? How many miles per year? What is the MSRP of the two vehicles in question?

Also - what state are you in? Kia has two different sets of numbers based on state.

The only 39 month program I see for the 2015 Sorento this month is for the LX 2.4L FWD - .00054 MF and 55% residual for 39/12.

Your dealer may be using a different finance company other than Kia for the quotes you received.

@Michaell said:
I'm assuming that Washington taxes only the payment and not the entire selling price?

MSRP is as requested and then the options listed in my first post (Convenience package 2200/2025, 50/50 seat 1000/930. MSRP/Dealer Cost respectively).

MSRP with options and destination ($895) was given as $30090 for the AWD model and $28310 for the FWD model.

If I'm not being clear let me know and I can go ahead and scan in the documents and upload them. And yes -- WA taxes on the PMT not the selling price

I've used the shopping tools, and a calculator, but I don't understand how the price jumps over $100 a month from their current "279" a month sign and drive deal to almost 400 for adding $3000 in options or so, so I wanted to make sure I wasn't getting screwed.